Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Sees Significant Increase in Short Interest
by Jessica Moore · The Cerbat GemBreakwave Tanker Shipping ETF (NYSEARCA:BWET – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 76,234 shares, an increase of 141.8% from the March 15th total of 31,529 shares. Based on an average daily volume of 147,779 shares, the short-interest ratio is presently 0.5 days. Approximately 19.1% of the shares of the stock are short sold.
Breakwave Tanker Shipping ETF Price Performance
BWET stock traded down $3.89 during mid-day trading on Monday, hitting $159.05. 156,627 shares of the stock were exchanged, compared to its average volume of 89,631. The business has a fifty day moving average price of $78.60 and a 200 day moving average price of $41.85. Breakwave Tanker Shipping ETF has a 12 month low of $9.60 and a 12 month high of $179.90. The stock has a market capitalization of $42.94 million, a price-to-earnings ratio of 34.79 and a beta of -0.77.
About Breakwave Tanker Shipping ETF
The Breakwave Tanker Shipping ETF (BWET) is an exchange-traded fund that is based on the Breakwave Wet Freight Futures index. The fund provides long-only exposure to the crude oil tanker shipping market by tracking an index of the near-dated wet freight futures contracts on related indexes. The portfolio has an average maturity of about 50-70 days. BWET was launched on May 3, 2023 and is managed by Breakwave.